PrivateE-pany-centricEC?pany’sbuyingneeds(many-to-one,orbuy-side)orsellingneeds(one-to-many,orsell-side).privatee-marketplaces?Marketsinwhichtheindividualsell-sideorbuy-pletecontroloverparticipationinthesellingorbuyingtransaction.8.Concepts,Characteristics,?andModelsofB2BECMany-to-Many:Exchangesexchanges(munitiesortradingexchanges)?Many-to-manye-marketplaces,usuallyownedandrunbyathirdpartyoraconsortium,inwhichmanybuyersandmanysellersmeetelectronicallytotradewitheachother.publice-marketplaces?Third-partyexchangesopentoallinterestedparties(sellersandbuyers).merce9.Concepts,Characteristics,?andModelsofB2BECB2BCHARACTERISTICSPartiestotheTransaction:Sellers,Buyers,andIntermediariesonlineintermediary?hirdpartythatbrokersatransactiononlinebetweenabuyerandaseller;maybevirtualorclick-and-mortar.10.